This Rocks "FACTS" To The Core. Why Was This Left Out?
Posted: Thu Oct 15, 2015 1:31 pm
From the Kucinich announcement!
• A Standard and Poor’s Research Report of May 9, 2013, states:Lakewood Hospital “remains outside of the obligated group because it is a government-owned facility tied to CCHS through a long-term lease.”
• In the May 9, 2013 Research Report, Standard and Poor’s cites some underlying facts concerning CCF’s contractual obligations to Lakewood Hospital in what has become a central bone of contention between those who maintain that Lakewood Hospital is losing money and therefore must close, and those residents of Lakewood, plaintiffs in Graham v. City of Lakewood, who insist that any cash shortfalls at Lakewood Hospital, by contract must be covered by Cleveland Clinic: “A contract with Lakewood requires CCF to fund any cash shortfall should one occur. Lakewood’s cash to debt must always equal to at least a 1:1 ration as [sic] the end of its fiscal year. Should losses continue or liquidity decline such that either impede timely payment of remaining debt service, we could lower the rating. “
.
• A Standard and Poor’s Research Report of May 9, 2013, states:Lakewood Hospital “remains outside of the obligated group because it is a government-owned facility tied to CCHS through a long-term lease.”
• In the May 9, 2013 Research Report, Standard and Poor’s cites some underlying facts concerning CCF’s contractual obligations to Lakewood Hospital in what has become a central bone of contention between those who maintain that Lakewood Hospital is losing money and therefore must close, and those residents of Lakewood, plaintiffs in Graham v. City of Lakewood, who insist that any cash shortfalls at Lakewood Hospital, by contract must be covered by Cleveland Clinic: “A contract with Lakewood requires CCF to fund any cash shortfall should one occur. Lakewood’s cash to debt must always equal to at least a 1:1 ration as [sic] the end of its fiscal year. Should losses continue or liquidity decline such that either impede timely payment of remaining debt service, we could lower the rating. “
.